Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Sunday newspaper round-up: BT Group, Aston Martin, MPs

(Sharecast News) - BT has intensified its preparations to see off a possible takeover bid by its major shareholder Deutsche Telekom. For months now, the telecoms services provider had been working with Robey Warshaw and Goldman Sachs to prepare against such a scenario. Speculation in that regard was reaching a crescendo both in the City and within the sector, due to BT's need to invest £15bn in its new fibre-optic broadband network and multiple potentially destabilising factors. - The Sunday Telegraph

Aston Martin's decision to team up with Lucid Motors is but the latest move by Saudi to grow its economic influence in the UK. Indeed, Lucid's majority owner, Saudi's Public Investment Fund, was already the second-largest investor in Aston Martin, holding a 18% stake worth approximately £450m. PIH also has holdings in Carnival and in 2021 took over Newcastle United. The moves come amid a drive by the UK government to agree free-trade deal with the Gulf Cooperation Council. - The Financial Mail on Sunday

There are over 50 MPs who own stakes in publicly listed firms, raising questions regarding possible conflicts of interest. Under parliamentary rules, the shareholdings, including those of former PM Theresa May or former education secretary Gavin Williamson, did not need to be publicly disclosed in parliamentary registers. Among the companies now held by MPs were Barclays, HSBC, BP and Sainsbury's. Such companies could be impacted by laws or news policies introduced by Parliament. A spokesperson for May said she entirely rejected any suggestion that she broke any of the rules regarding shares in BT held by her husband. - Guardian

Fintech outfit Revolut was reportedly the target of an £18m by criminals who targetted a flaw in its US payments system. The Financial Times reported that the funds were stolen over the course of several months in 2022 before Revolut was able to close the loophole. The company, which has been pursuing a UK banking licence, was dealt another setback in March, when auditor BDO said three quarters of its revenues could not be verified and might have been misstated. - The Financial Mail on Sunday

Share this article

Related Sharecast Articles

Sunday newspaper round-up: Debt interest, Autumn Budget, RC Fornax
(Sharecast News) - Rachel Reeves has been left facing a £50bn bill as a result of higher debt interest payments following a rout in the bond market. And City exports caution that the bill could keep climbing. Hence, the Chancellor may soon have to choose between either bending her own fiscal rules, enacting tax increases or cutting spending. The rout has seen the tiny £10bn buffer left by Reeves to meet her main fiscal rule, which requires that tax revenues cover day-to-day expenditures, evaporate. - The Financial Mail on Sunday
Friday newspaper round-up: Energy bills, ticket touting, BlackRock
(Sharecast News) - The number of people in England and Wales who sought help with energy bills jumped by 20% last year, according to Citizens Advice, which assisted 60,000 households struggling with the soaring cost of gas and electricity. That number was double the figure for 2020, the national consumer advice charity said, with problems with billing being the single most common type of issue raised with its service providers. - Guardian
Thursday newspaper round-up: Job vacancies, civil servants, Darktrace
(Sharecast News) - Vacancies for permanent jobs in the UK declined at their fastest pace for four years last month, according to a new survey that adds to the gloomy economic mood. Amid febrile markets and weak economic data, the monthly jobs report from the consultancy KPMG and the recruitment firm REC shows many firms reluctant to hire. - Guardian
Wednesday newspaper round-up: Rolls-Royce Motor Cars, Shein, JPMorgan Chase
(Sharecast News) - The UK's advertising watchdog has banned a campaign by an online investment company predominantly targeting Muslims that featured images of euros and US dollars and the words "The United States of America" in flames alongside a call to "join the money revolution". Wahed Invest Ltd, an online investment platform, ran six posters on various Transport for London (TfL) services, including the London Underground and on buses, last September and October. - Guardian

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.